Telos enhances its DeFi with launch of new coins and liquidity on TSwaps platform

CryptoNinjas » Telos enhances its DeFi with launch of new coins and liquidity on TSwaps platform

Telos, a blockchain and smart contract platform, today announced plans for a deeper push into the DeFi sector with the upcoming Q2 release of Telos SureProfit, a new feature that enables investors to ensure the success of their trades.

Through this “profit-or-cancel” technology, users can create trades that look at the state of an investor’s wallet before and after the intended transaction, and if the post-transaction balance is not higher by the user-defined measure, the system automatically cancels the transaction, eliminating unintended losses from Telos DeFi transactions using Telos SureProfit.

As part of a deeper expansion into native Telos DeFi, Telos also launched five new ERC-20 tokens, including USDT, USDC, pETH, LINK, and PNT, with support for DAI, UNI, and SUSHI coming in the near future. In addition, over $1 million in liquidity has been added to the above markets on Telos’ full-featured DeFi platform that allows for direct swaps of Telos tokens and low-slippage USD stablecoins and includes yield farming liquidity pools and transaction mining rewards.  This liquidity fosters TLOS-native DeFi adoption, coupled with no gas fees, fast transaction times, and no front-running.

“The launch of Telos SureProfit is another demonstration of our long-standing tradition of innovation that includes the Telos Decide governance engine and the T-Bond NFT fundraising mechanism. We’re continuing to advance our technology for use by all investors, and we anticipate considerable excitement around our new ‘profit-or-cancel’ technology because it’s not just new on Telos…it’s new to the entire DeFi sector. We believe this will encourage new investors to initiate their involvement with Telos DeFi, and we look forward to welcoming them to our ecosystem.”
– Douglas Horn, Telos Chief Architect

In a manner similar to the way flash loans work on Ethereum where the loan smart contract ensures that it receives all its tokens back or else triggers the entire transaction to fail, investors can use Telos SureProfit to ensure they do not complete transactions that are not profitable by the terms they choose.

Telos SureProfit will carry a small use fee paid in TLOS to prevent spam attacks, further add to TLOS utility, and continue to support the Telos network with zero inflation and free basic transactions for all. Unlike on Ethereum, however, Traders on Telos are never hit with large gas fees that are required even when a transaction fails.

There are two flavors of DeFi on the Telos roadmap, one via native activity on the Telos blockchain, and the other on Ethereum via the soon-to-be-released Telos EVM (Ethereum Virtual Machine) that runs Solidity contracts on Telos just like Ethereum, but faster, with higher capacity and at approximately 0.1% of the cost of Ethereum gas fees.  Telos SureProfit will function natively on Telos, but will not be available on Telos EVM because profit-or-cancel isn’t currently possible for Ethereum smart contracts.

In addition to speed, capacity, and zero transaction fees, Telos has significant advantages over other platforms that make it the most advanced blockchain software for smart contracts and decentralized applications. Telos’ governance structure gives developers and community members control of the platform to a greater extent than any comparable blockchain, rather than a centralized entity, small groups, or individual whales, and these governance functions are made available to any Telos developers to use in their own DApps via the Telos Decide governance engine.

The Telos network currently supports 10,000 transactions per second (TPS) with zero transaction fees, compared to Ethereum’s 14 TPS with fees.

CryptoNinjas » Telos enhances its DeFi with launch of new coins and liquidity on TSwaps platform